Made Simple

3rd Edition - January 23, 1989

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  • Author: Wilfred Hingley
  • eBook ISBN: 9781483105734

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Accounting: Made Simple, Third Edition covers the basic principles and techniques of accounting, with emphasis on accounting statements, formats, and procedures, as well as their preparation, uses, and interpretation. The book tackles the common forms of financial statements and the main types of business units that operate to provide goods and services and accounting for governments, charities and individuals, and profit-making enterprise. The text also describes the accounting requirements of business combination; the analysis of income and costs; the fundamentals of cost accounting; and management accounting. Accounting for inflation and standard accounting practices are also considered. The book concludes by presenting published company accounts and exercises and by providing answers to the exercises. Those having some knowledge of book-keeping or elementary accounting and those having no knowledge at all, but needing an appreciation of accounting as part of business or professional training and courses, will find the book invaluable.

Table of Contents

  • Preface


    Part One Financial Accounting and Reporting

    1 The Business and Financial Environment

    1.1 The Role of Accounting

    1.2 The Balance Sheet

    1.3 Revenue Accounts

    1.4 The Funds Flow Statement

    1.5 Value Added Statements

    1.6 Concepts and Conventions

    1.7 Analysis of Accounts

    2 More on Balance Sheet Items

    2.1 Fixed Assets: Types of Assets

    2.2 Fixed Assets: Methods of Estimating Depreciation Expense

    2.3 Current Assets: Stocks and Stock Control

    2.4 Current Assets: Debtors and Debtors Control

    2.5 Current Assets: Cash and Cash Control

    2.6 Liabilities: Short and Long Term

    3 Types of Business Organization and Their Accounts

    3.1 Double Entry and Basic Records

    3.2 The Sole Trader

    3.3 Partnerships

    3.4 The Limited Company

    3.5 Valuation of a Business and Goodwill

    Part Two Growth and Failure

    4 Expansion

    4.1 Amalgamation and Absorption of Two or More Companies

    4.2 Holding Companies, Group Accounts and Consolidated Balance Sheets

    4.3 Inter-Company Transactions

    4.4 Consolidated Profit and Loss Accounts

    5 Decline and Failure

    5.1 Capital Reduction

    5.2 Capital Reconstruction or Reorganization

    Part Three Analysis of Income and Costs

    6 More on Revenue Account Items

    6.1 The Manufacturing Account

    6.2 The Trading and Profit and Loss Account

    6.3 Departmental Accounts

    7 Special Forms of Accounts

    7.1 Branch Accounts: Home Branches

    7.2 Branch Accounts: Foreign Branches

    7.3 Extended Credit, Hire Purchase and Leasing

    7.4 Investment Accounts

    7.5 Royalty Accounts

    8 Taxation

    8.1 The Sole Trader

    8.2 The Partnership

    8.3 Aspects of Company Taxation

    8.4 Pay as you Earn (PAYE)

    8.5 Value Added Tax (VAT)

    8.6 Foreign Taxation

    Part Four Management Accounting

    9 The Scope of Management Accounting

    9.1 Cost Ascertainment: The Elements of Cost

    9.2 Cost Ascertainment: Materials

    9.3 Cost Ascertainment: Labor

    9.4 Overheads: Classification and Collection

    9.5 Absorbing Overhead Costs

    10 Costing For Various Forms of Enterprise

    10.1 Costing Methods: Specific Order Costing

    10.2 Costing Methods: Average Costs, Process Costing and Service Industries

    11 Cost Control: Costing Techniques

    11.1 Costing Techniques: Absorption and Marginal Costing

    11.2 Costing Techniques: Break-Even Analysis Cost/Volume Relationships

    11.3 Costing Techniques: Budgetary Control - Master and Subsidary Budgets

    11.4 Costing Techniques: Budgetary Control - Cash Flow

    11.5 Cost Control: Standard Costs and Variance Analysis

    11.6 Cost Control: Non-Manufacturing Costs

    12 Costs for Decision Making

    12.1 Marginal Costs

    12.2 Incremental, Differential and Opportunity Costs

    12.3 Investment Appraisal: Payback and Return on Capital Employed

    12.4 Investment Appraisal: Discounted Cash Flow

    12.5 Investment Appraisal: Risk Analysis and Other Factors

    Part Five Miscellaneous and Contemporary Issues

    13 Accounting For Inflation

    13.1 The Impact of Inflation upon a Business

    13.2 Adjusting Accounts Based on Historic Cost

    13.3 Development of Accounting Standards

    13.4 The Present Position Regarding Published Accounts

    13.5 Inflation and Management Accounting

    14 Standard Accounting Practices

    14.1 Statements of Standard Accounting Practice (SSAPs) — History

    14.2 Statements of Standard Accounting Practice at Present in Use

    14.3 European and International Standards

    15 Published Company Accounts

    15.1 Transport Development Group PLC Annual Report and Accounts 1986

    15.2 Communicating to Employees

    Part Six Exercises

    Exercises: First Series

    Exercises: Second Series

    Answers to Exercises: First Series

    Answers to Exercises: Second Series

    Appendix 1 Tables of Discounted Values of £1

    Appendix 2 Accounting and Allied Organizations


Product details

  • No. of pages: 590
  • Language: English
  • Copyright: © Made Simple 1989
  • Published: January 23, 1989
  • Imprint: Made Simple
  • eBook ISBN: 9781483105734

About the Author

Wilfred Hingley

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